Note 27 - Leases

Within the framework of the lease agreements, the Group leases the following items:

1. Land;

2. Offices and vehicles.

The Group mostly leases land for the purpose of building renewable energy facilities. The total sum of the right-of-use asset which was recognized in the statement of financial position as of December 31, 2024 in respect of leases amounted to USD 210,941 thousand. The total lease liability which was recognized in the statement of financial position as of December 31, 2024 in respect of land leases amounted to USD 222,181 thousand.

Right-of-use assets

Composition

USD in thousands	Land			Offices and vehicles			Total

Balance as of January 1, 2024		118,280			3,068			121,348
Additions		97,075			1,078			98,153
Amortization of right-of-use assets		(6,622	)		(1,380	)		(8,002	)
Linkage to index		5,137			53			5,190
Classification to Assets of disposal groups classified as held for sale		(2,994	)		-			(2,994	)
Reserve for translation differences		(2,730	)		(24	)		(2,754	)
Balance as of December 31, 2024		208,146			2,795			210,941

USD in thousands	Land			Offices and vehicles			Total

Balance as of January 1, 2023		93,547			2,968			96,515
Additions		25,122			998			26,120
Amortization of right-of-use assets		(4,765	)		(884	)		(5,649	)
Linkage to index		4,060			40			4,100
Sale of consolidated companies		(1,354	)		-			(1,354	)
Reserve for translation differences		1,670			(54	)		1,616
Balance as of December 31, 2023		118,280			3,068			121,348

Effects on the statements of income	For the year ended December 31
	2024			2023
	USD in thousands			USD in thousands

Interest expenses in respect of lease liability		(5,675	)		(2,503	)
Expenses attributed to variable lease payments which were not included in measurement of lease liability		(1,133	)		(1,083	)
Depreciation expenses		(7,023	)		(3,819	)
Total		(13,831	)		(7,405	)