Exhibit 99.2

Financial Information for the First Quarter Ended March 31, 2017 of Kenon, IC Power and Qoros

Table of Contents

Appendix A

Summary Kenon consolidated financial information

Kenon Holdings LtdUnaudited Condensed Consolidated Statements of Financial Position

	March 31,			December 31
	2017			2016
	$ millions
Current assets
Cash and cash equivalents		328			327
Short-term investments and deposits		110			90
Trade receivables, net		285			284
Other current assets, including derivatives instruments		53			50
Income tax receivable		4			11
Inventories		89			92
Total current assets		869			854
Non-current assets
Investments in associated companies		185			208
Deposits, loans and other receivables, including derivative instruments		186			177
Deferred taxes, net		26			25
Property, plant and equipment, net		3,553			3,497
Goodwill and intangible assets, net		366			377
Total non-current assets		4,316			4,284
Total assets		5,185			5,138
Current liabilities
Loans and debentures		501			483
Trade payables		289			286
Other payables, including derivative instruments		113			91
Guarantee deposits from customers		61			57
Provisions		61			119
Income tax payable		16			9
Total current liabilities		1,041			1,045
Non-current liabilities
Loans, excluding current portion		2,042			1,973
Debentures, excluding current portion		850			857
Derivative instruments		44			45
Deferred taxes, net		223			225
Trade payables		41			44
Other non-current liabilities		55			55
Total non-current liabilities		3,255			3,199
Total liabilities		4,296			4,244
Equity
Share capital		1,267			1,267
Shareholder transaction reserve		27			27
Translation reserve		(12	)		(22	)
Capital reserve		11			12
Accumulated deficit		(622	)		(603	)
Equity attributable to owners of the Company		671			681
Non-controlling interests		218			213
Total equity		889			894
Total liabilities and equity		5,185			5,138

Kenon Holdings Ltd Unaudited Condensed Consolidated Statements of Profit or Loss

	For the three months ended March 31,
	2017			2016
	$ millions
Revenue		544			422
Cost of sales and services (excluding depreciation)		(374	)		(302	)
Depreciation		(45	)		(33	)
Gross profit		125			87
Selling, general and administrative expenses		(34	)		(31	)
Impairment of assets		(20	)		-
Other income		13			2
Operating profit		84			58
Financing expenses		(62	)		(38	)
Financing income		9			4
Financing expenses, net		(53	)		(34	)
Share in losses of associated companies, net of tax		(22	)		(40	)
Profit/(Loss) before income taxes		9			(16	)
Income taxes		(19	)		(12	)
Loss for the year		(10	)		(28	)
Attributable to:
Kenon's shareholders		(20	)		(36	)
Non-controlling interests		10			8
Loss for the period		(10	)		(28	)
Basic/diluted loss per share attributable to Kenon's shareholders (in dollars):
Basic/diluted loss per share		(0.38	)		(0.67	)

Kenon Holdings Ltd and subsidiaries Unaudited Condensed Consolidated Statements of Cash Flows

	For the Three Months ended March 31
	2017			2016
	$ millions
Cash flows from operating activities
Loss for the period		(10	)		(28	)
Adjustments:
Depreciation and amortization		48			36
Impairment of assets		20			—
Financing expenses, net		53			34
Share in losses of associated companies, net of tax		22			40
Capital loss, net		1			5
Income taxes		19			12
		153			99
Change in inventories		3			(3	)
Change in trade and other receivables		(2	)		(25	)
Change in trade and other payables		(38	)		(29	)
Change in provisions and employee benefits		-			(40	)
Cash generated from operating activities		116			2
Income taxes paid, net		(15	)		(11	)
Net cash provided by/(used in) operating activities		101			(9	)

Kenon Holdings Ltd and subsidiaries Unaudited Condensed Consolidated Statements of Cash Flows, continued

	For the Three Months Ended March 31
	2017			2016
	$ millions
Cash flows from investing activities
Proceeds from sale of property, plant and equipment		2			-
Short-term deposits and loans, net		(19	)		225
Business combinations, less cash acquired		-			(182	)
Investment in associated company		-			(43	)
Sale of securities held for trade and available for sale, net		-			6
Acquisition of property, plant and equipment		(40	)		(97	)
Acquisition of intangible assets		(1	)		(2	)
Interest received		1			2
Payment of deferred acquisition consideration		-			(1	)
Payment to release financial guarantee		(57	)		-
Net cash used in investing activities		(114	)		(92	)
Cash flows from financing activities
Dividend paid to non-controlling interests		(7	)		(3	)
Proceeds from issuance of shares to holders of non-controlling interests in subsidiaries		-			2
Receipt of long-term loans and issuance of debentures		78			104
Repayment of long-term loans and debentures		(40	)		(81	)
Short-term credit from banks and others, net		5			107
Interest paid		(33	)		(24	)
Net cash provided by financing activities		3			105
(Decrease)/increase in cash and cash equivalents		(10	)		4
Cash and cash equivalents at beginning of the period		327			384
Effect of exchange rate fluctuations on balances of cash and cash equivalents		11			1
Cash and cash equivalents at end of the period		328			389

Information regarding reportable segments

Information regarding activities of the reportable segments are set forth in the following table.

	IC Power*
	Generation**			Distribution			Qoros***			Other			Adjustments			Total
	$ Millions
For the three months ended March 31, 2017
Total sales		405			139			-			-			-			544
Adjusted EBITDA****		122			24			-			(4	)		-			142
Depreciation and amortization		43			5			-			-			-			48
Financing income		(1	)		(8	)		-			(3	)		3			(9	)
Financing expenses		48			8			-			9			(3	)		62
Other items:
Impairment of assets		20			-			-			-			-			20
Other income		(10	)		-			-			-			-			(10	)
Share in (profits)/losses of associated companies		-			-			21			1			-			22
		100			5			21			7			-			133
Profit/(loss) before taxes		22			19			(21	)		(11	)		-			9
Income taxes		12			7			-			-			-			19
Profit/(loss) for the period		10			12			(21	)		(11	)		-			(10	)

*	The total assets and liabilities of IC Power are $5.0 billion and $4.1 billion at March 31, 2017, respectively.
**	Includes holding company.
***	Associated company.
****	Adjusted EBITDA is a non-IFRS measure.

	IC Power*
	Generation**		Distribution***			Qoros****			Other			Adjustments			Total
	$ Millions
For the three months ended March 31, 2016
Total sales		321		101			-			-			-			422
Adjusted EBITDA*****		84		15			-			(5	)		-			94
Depreciation and amortization		31		5			-			-			-			36
Financing income		-		(2	)		-			(3	)		1			(4	)
Financing expenses		24		8			-			7			(1	)		38
Other items:
Share in losses of associated companies		-		-			26			14			-			40
		55		11			26			18			-			110
Profit/(loss) before taxes		29		4			(26	)		(23	)		-			(16	)
Income taxes		10		2			-			-			-			12
Profit/(loss) for the period		19		2			(26	)		(23	)		-			(28	)

*	The total assets and liabilities of IC Power are $4.9 billion and $3.8 billion at March 31, 2016, respectively.
**	Includes holding company.
***	Operating since January 22, 2016.
****	Associated company.
*****	Adjusted EBITDA is a non-IFRS measure.

Information regarding associated companies

	Carrying amounts of investment in associated companies				Equity in the net (losses) / earnings of associated companies
	as at				for the year ended
	March 31		December 31		March 31			March 31
	2017		2016		2017			2016
	$ millions				$ millions
ZIM		80		82		(1	)		(15	)
Qoros		96		117		(21	)		(26	)
Others		9		9		-			1
		185		208		(22	)		(40	)

Contributions of Principal Operations to Loss attributable to Kenon’s Shareholders

	Three Months Ended March 31,
	2017			2016
	(US$ millions)
IC Power		12			14
Qoros		(21	)		(26	)
ZIM		(1	)		(16	)
Other		(10	)		(8	)
Loss attributable to Kenon’s shareholders		(20	)		(36	)

Appendix B

Summary IC Power unaudited consolidated financial information

IC Power’s Consolidated Statement of Income

	For the Three Months ended March 31,
	2017			2016
	US$ million			US$ million
Sales		544			422
Cost of sales (excluding depreciation and amortization)		(375	)		(302	)
Depreciation and amortization		(45	)		(33	)
Gross profit		124			87
General, selling and administrative expenses		(29	)		(26	)
Asset write-off		(20	)		-
Other income		13			2
Operating income		88			63
Financing expenses		(56	)		(32	)
Financing income		9			2
Financing expenses, net		(47	)		(30	)
Share in income of associate		-			-
Income before taxes		41			33
Taxes on income		(19	)		(12	)
Net income for the period		22			21
Attributable to:
Equity holders of the company		12			13
Non-controlling interest		10			8
Net income for the period		22			21

Summary Data from IC Power’s Unaudited Consolidated Statement of Cash Flows

	Three Months Ended March 31,
	2017			2016
	(in millions of USD)
Cash flows provided by (used in) operating activities		106			(3	)
Cash flows used in investing activities		(56	)		(56	)
Cash flows provided by financing activities		2			65
Increase in cash and cash equivalents		52			6
Cash and cash equivalents at end of the period		283			367
Investments in property, plant and equipment1		40			99
Total depreciation and amortization		48			36

1. Not including business combination

Summary Data from IC Power’s Consolidated Statement of Financial Position

	As at
	March 31 2017		December 31 2016
	(in millions of USD)
Total financial liabilities1		3,145		3,072
Total monetary assets2		393		308
Total equity attributable to the owners		645		622
Total assets		4,972		4,840

1.	Pertains to loans from banks and others and debentures
2.	Pertains to cash and cash equivalents and short-term deposits

Appendix C

Definition of IC Power’s Adjusted EBITDA and non-IFRS reconciliation

This press release, including the financial tables, presents Adjusted EBITDA, net debt and net financial liabilities, which are financial metrics considered to be “non-IFRS financial measures.” Non-IFRS financial measures should be evaluated in conjunction with, and are not a substitute for, IFRS financial measures. The non-IFRS financial information presented herein should not be considered in isolation from or as a substitute for operating income, net income or per share data prepared in accordance with IFRS.

IC Power defines “Adjusted EBITDA” as for each period for each entity as net income before depreciation and amortization, financing expenses, net, income tax expense, impairment of assets and working capital adjustment. Adjusted EBITDA is not recognized under IFRS or any other generally accepted accounting principles as measures of financial performance and should not be considered as a substitute for net income or loss, cash flow from operations or other measures of operating performance or liquidity determined in accordance with IFRS. Adjusted EBITDA is not intended to represent funds available for dividends or other discretionary uses because those funds may be required for debt service, capital expenditures, working capital and other commitments and contingencies. Adjusted EBITDA presents limitations that impair its use as a measure of our profitability since it does not take into consideration certain costs and expenses that result from our business that could have a significant effect on our net income, such as financial expenses, taxes, depreciation, capital expenses and other related charges.

IC Power believes that the disclosure of Adjusted EBITDA and net debt provides transparent and useful information to investors and financial analysts in their review of the company’s, or its subsidiaries’ and associate’s operating performance and in the comparison of such operating performance to the operating performance of other companies in the same industry or in other industries that have different capital structures, debt levels and/or income tax rates.

Set forth below is a reconciliation of IC Power’s, and each of its segments’, net income to Adjusted EBITDA for the periods presented. Other companies may calculate Adjusted EBITDA differently, and therefore this presentation of Adjusted EBITDA may not be comparable to other similarly titled measures used by other companies.

	Three Months Ended March 31, 2017
	(in USD millions)
	Generation									Distribution		Total
	Peru		Israel		Central America		Other			Guatemala
Net income (loss) for the period		22		11		7		(30	)		12		22
Depreciation and amortization		18		8		8		9			5		48
Financing expenses, net		18		6		2		21			-		47
Income tax expense		6		3		3		-			7		19
Impairment of assets		-		-		-		20			-		20
Working capital adjustment		-		-		-		(10	)		-		(10	)
Adjusted EBITDA		64		28		20		10			24		146

	Three Months Ended March 31, 2016
	(in USD millions) (unaudited)
	Generation									Distribution		Adjustments			Total
	Peru		Israel		Central America		Other			Guatemala
Net income (loss) for the period		16		13		2		(15	)		3		2			21
Depreciation and amortization1		12		6		7		8			5		(2	)		36
Financing expenses, net		5		2		4		13			6		—			30
Income tax expense		6		1		2		2			1		—			12
Adjusted EBITDA		39		22		15		8			15		—			99

1. Includes depreciation and amortization expenses from general, selling and administrative expenses.

Appendix D

Summary operational information of IC Power’s generation assets

The following table sets forth summary operational information regarding each of IC Power’s operating companies and associate in its power generation business as of May 31, 2017, according to segment:

Segment	Country	Entity	OwnershipPercentage (Rounded)	Fuel	InstalledCapacity(MW)1	ProportionateCapacity2	Type of Asset
Peru	Peru	Kallpa	75%	Natural Gas	1,063	797	Greenfield
	Peru	Samay I	75%	Diesel and Natural Gas	632	474	Greenfield
	Peru	CDA	75%	Hydroelectric	545	409	Greenfield
Israel	Israel	OPC-Rotem	80%	Natural Gas and Diesel	440	352	Greenfield
	Israel	OPC-Hadera3	100%	Natural Gas	18	18	Acquired
Central America	Nicaragua	Corinto	65%	HFO	71	46	Acquired
	Nicaragua	Tipitapa Power	65%	HFO	51	33	Acquired
	Nicaragua	Amayo I	61%	Wind	40	24	Acquired
	Nicaragua	Amayo II	61%	Wind	23	14	Acquired
	Guatemala	Puerto Quetzal	100%	HFO	179	179	Acquired
	El Salvador	Nejapa	100%	HFO	140	140	Original Inkia Asset
	Panama	Kanan4	100%	HFO	92	92	Greenfield
Other	Bolivia	COBEE	100%	Hydroelectric, Natural Gas	228	228	Original Inkia Asset
	Chile	Central Cardones	87%	Diesel	153	133	Acquired
	Chile	Colmito	100%	Natural Gas and Diesel	58	58	Acquired
	Dominican Republic	CEPP	97%	HFO	67	65	Original Inkia Asset
	Jamaica	JPPC	100%	HFO	60	60	Original Inkia Asset
	Panama	Pedregal5	21%	HFO	54	11	Original Inkia Asset
	Total Operating Capacity				3,914	3,133

1.	Reflects 100% of the capacity of each of IC Power’s assets, regardless of ownership interest in the entity that owns each such asset.
2.	Reflects the proportionate capacity of each of IC Power’s assets, as determined by IC Power’s ownership interest in the entity that owns each such asset.
3.	OPC-Hadera also holds a conditional license for the construction of a cogeneration power station in Israel. This station is being developed as a greenfield project (at an expected cost of $250 million, including the NIS 60 million (approximately $16 million) acquisition price of OPC-Hadera), based upon a plant with 140 MW of capacity. Construction commenced in June 2016 and commercial operations are expected to commence by early 2019.
4.	Kanan’s barges (representing 92 MW) have been placed offline as a result of a fire that occurred in April 2017.
5.	Although Pedregal is located in Central America, it is a minority investment. Therefore, from an income statement perspective, it is not part of the Central America segment and Pedregal is only reflected in IC Power’s share in income of associate.

Appendix E

Summary Unaudited Financial Information of IC Power’s Subsidiaries and Associated Company

	Three Months Ended March 31, 2017
Entity	OwnershipInterest(%)		Sales		Cost ofSales		Adjusted EBITDA1			OutstandingDebt2		NetDebt3
			($ millions)
GENERATION
Peru segment
Kallpa		75	$	108	$	70	$	34		$	413	$	382
CDA		75		31		11		18			589		557
Samay I		75		33		21		12			349		330
Israel segment
OPC-Rotem		80		87		59		28			379		312
OPC-Hadera		100		12		11		—			70		36
Central America segment
ICPNH4		61-65		25		16		9			84		73
Puerto Quetzal		100		10		11		2			18		13
Nejapa		100		24		20		3			3		(7	)
Cenérgica		100		8		2		1			—		(4	)
Kanan		100		19		14		5			43		36
Guatemel		100		2		2		—			—		(2	)
Other segment
COBEE		100		12		4		7			84		59
Central Cardones		87		4		—		3			33		31
Colmito		100		6		5		1			17		15
CEPP		97		11		9		1			12		10
JPPC		100		11		10		—			2		—
Surpetroil		60		2		1		—			2		1
Recsa		100		—		—		—			5		3
Holdings5
IC Power Distribution Holdings		100		—		—		—			120		120
Inkia & Other6		100		—		—		(1	)		448		381
IC Power, ICPI & Other7		100		—		—		(1	)		164		108
DISTRIBUTION
DEORSA		93		61		48		10			123		117
DEOCSA		91		78		61		14			187		181
TOTAL			$	544	$	375	$	146		$	3,145	$	2,752

1.	“Adjusted EBITDA” for each entity for the period is defined as net income (loss) before depreciation and amortization, finance expenses, net, income tax expense (benefit), impairment of assets and working capital adjustment.
2.	Includes short-term and long-term debt and excludes loans and notes owed to Kenon.
3.	Net debt is defined as total debt attributable to each of IC Power’s subsidiaries, excluding debt owed to Kenon, minus the cash and short term deposits and restricted cash of such companies. Net debt is not a measure of liabilities in accordance with IFRS. The tables below set forth a reconciliation of net debt to total debt for IC Power’s subsidiaries.
4.	Through ICPNH, IC Power indirectly holds 65% interests in Corinto and Tipitapa Power and 61% interests in Amayo I and Amayo II.
5	In addition to the results of certain of IC Power’s generation assets, IC Power’s Other segment also includes expenses and other adjustments relating to its headquarters and intermediate holding companies, including purchase price allocations recorded in connection with IC Power’s acquisition of Energuate, which allocations were recorded by Inkia, one of IC Power’s intermediate holding companies.
6.	Outstanding debt includes $448 million for Inkia.
7.	Includes $12 million of IC Power’s outstanding debt, $54 million of ICPI’s debt and $98 million of Overseas Investment Peru’s debt.

The following tables set forth a reconciliation of income (loss) to EBITDA for IC Power’s subsidiaries for three months ended March 31, 2017:

	Kallpa		CDA			Samay I		OPC-Rotem		OPC-Hadera			ICPNH		PuertoQuetzal
	($ millions)
Net income (loss)	$	13	$	5		$	4	$	12	$	(1	)	$	3	$	1
Depreciation and amortization		10		4			4		7		1			3		—
Finance expenses, net		5		10			3		5		1			2		—
Income tax expense (benefit)		6		(1	)		1		4		(1	)		1		1
Impairment of assets		—		—			—		—		—			—		—
Working capital adjustment		—		—			—		—		—			—		—
EBITDA	$	34	$	18		$	12	$	28	$	—		$	9	$	2

	Nejapa		Cenérgica		Kanan		Guatemel		COBEE		CentralCardones		Colmito
	($ millions)
Net income (loss)	$	2	$	1	$	—	$	—	$	4	$	1	$	—
Depreciation and amortization		—		—		5		—		1		1		—
Finance expenses, net		—		—		—		—		1		—		1
Income tax expense		1		—		—		—		1		1		—
Impairment of assets		—		—		—		—		—		—		—
Working capital adjustment		—		—		—		—		—		—		—
EBITDA	$	3	$	1	$	5	$	—	$	7	$	3	$	1

	CEPP		JPPC			Surpetroil		RECSA		IC PowerDistributionHoldings			Inkia &Other			IC Power, ICPI& Other
			($ millions)
Net income (loss)	$	—	$	(1	)	$	—	$	—	$	8		$	(33	)	$	(9	)
Depreciation and amortization		1		1			—		—		—			5			—
Finance expenses, net		—		—			—		—		2			9			8
Income tax expense (benefit)		—		—			—		—		—			(2	)		—
Impairment of assets		—		—			—		—		—			20			—
Working capital adjustment		—		—			—		—		(10	)		—			—
EBITDA	$	1	$	—		$	—	$	—	$	—		$	(1	)	$	(1	)

	DEOCSA		DEORSA		IC PowerTotal
	($ millions)
Net income (loss)	$	7	$	5	$	22
Depreciation and amortization		3		2		48
Finance expenses, net		—		—		47
Income tax expense		4		3		19
Impairment of assets		—		—		20
Working capital adjustment		—		—		(10	)
EBITDA	$	14	$	10	$	146

The tables below set forth a reconciliation of net debt to total debt for IC Power’s subsidiaries as of March 31, 2017.

	Kallpa		CDA		Samay I		OPC-Rotem		OPC-Hadera		ICPNH		PuertoQuetzal		Nejapa			Cenérgica			Kanan
	($ millions)
Total debt	$	413	$	589	$	349	$	379	$	70	$	84	$	18	$	3		$	—		$	43
Cash		31		32		19		67		34		11		5		10			4			7
Net Debt	$	382	$	557	$	330	$	312	$	36	$	73	$	13	$	(7	)	$	(4	)	$	36

	Guatemel			COBEE		CentralCardones		Colmito		CEPP		JPPC		Surpetroil		Recsa		IC PowerDistributionHoldings		Inkia &Other
	($ millions)
Total debt	$	—		$	84	$	33	$	17	$	12	$	2	$	2	$	5	$	120	$	448
Cash		2			25		2		2		2		2		1		2		—		67
Net Debt	$	(2	)	$	59	$	31	$	15	$	10	$	-	$	1	$	3	$	120	$	381

	IC Power, ICPI& Other		DEOCSA		DEORSA		Total ICPower
	($ millions)
Total debt	$	164	$	187	$	123	$	3,145
Cash		56		6		6		393
Net debt	$	108	$	181	$	117	$	2,752

The following table sets forth summary financial information for IC Power’s generation subsidiaries and associates for the three months ended March 31, 2016:

	Three Months Ended March 31, 2016
Entity	OwnershipInterest(%)		Sales		Cost ofSales		AdjustedEBITDA1			OutstandingDebt2		NetDebt3
			($ millions)
GENERATION BUSINESS
Peru segment
Kallpa		75	$	121	$	79	$	39		$	401	$	379
Assets in advance stages of construction
CDA		75		—		—		—			582		544
Samay I		75		—		—		—			333		309
Israel segment
OPC		80		77		54		22			387		282
AIE		100		13		11		—			—		(4	)
Central America segment
ICPNH4		61-65		23		13		10			97		82
Puerto Quetzal		100		15		13		2			17		10
Nejapa		100		17		13		3			—		(14	)
Cenergica		100		4		3		—			—		(2	)
Guatemel		100		1		1		—			—		(1	)
Assets in advance stages of construction
Kanan		100		15		14		—			61		60
Other segment
COBEE		100		12		4		7			67		48
Central Cardones		87		2		—		2			40		39
Colmito		100		6		5		—			17		15
CEPP		97		6		5		—			11		7
JPPC		100		7		7		—			4		1
Surpetroil		60		2		1		—			3		3
Recsa		100		—		—		—			3		2
TOTAL GENERATION BUSINESS				321		223		85			2,023		1,760
DISTRIBUTION BUSINESS
DEORSA		93		43		34		6			107		84
DEOCSA		91		58		45		9			164		149
TOTAL DISTRIBUTION BUSINESS				101		79		15			271		233
IC Power Distribution Holdings		100		—		—		—			118		118
Inkia & Other5		100		—		—		—			448		362
IC Power, ICPI & Other6		100		—		—		(1	)		95		31
TOTAL HOLDINGS				—		—		(1	)		661		511
TOTAL			$	422	$	302	$	99		$	2,955	$	2,504

1. “Adjusted EBITDA” for each entity for the period is defined as income (loss) before depreciation and amortization, finance expenses, net and income tax expense (benefit).

2. Includes short-term and long-term debt.

3. Net debt is defined as total debt attributable to each of IC Power’s subsidiaries, minus the cash and short term deposits and restricted cash of such companies. Net debt is not a measure of liabilities in accordance with IFRS. The tables below set forth a reconciliation of net debt to total debt for IC Power’s subsidiaries.

4. Through ICPNH, IC Power indirectly holds 65% interests in Corinto and Tipitapa Power and 61% interests in Amayo I and Amayo II.

5. Outstanding debt includes Inkia for $448 million.

6. Includes $38 million of outstanding IC Power debt and $57 million of ICPI debt.

The following tables set forth a reconciliation of income (loss) to Adjusted EBITDA for IC Power’s generation subsidiaries for the three months ended March 31, 2016:

	Kallpa		CDA			Samay I			OPC		AIE		ICPNH		PuertoQuetzal
	($ millions)
Income (loss)	$	14	$	1		$	1		$	13	$	—	$	4	$	(1	)
Depreciation and amortization		12		—			—			6		—		3		1
Finance expenses, net		6		—			(1	)		2		—		2		1
Income tax expense (benefit)		7		(1	)		—			1		—		1		1
Adjusted EBITDA	$	39	$	—		$	—		$	22	$	—	$	10	$	2

	Nejapa		Cenérgica		Kanan			Guatamel		COBEE		CentralCardones		Colmito
	($ millions)
Income (loss)	$	2	$	—	$	(2	)	$	—	$	4	$	—	$	—
Depreciation and amortization		1		—		1			—		1		1		—
Finance expenses, net		—		—		1			—		1		1		—
Income tax expense (benefit)		—		—		—			—		1		—		—
Adjusted EBITDA	$	3	$	—	$	—		$	—	$	7	$	2	$	—

	CEPP			JPPC			Surpetroil		RECSA		IC Power Distribution Holdings			Inkia &Other			IC Power, ICPI & Other
	($ millions)
Income (loss)	$	(1	)	$	(1	)	$	—	$	—	$	(2	)	$	(10	)	$	(4	)
Depreciation and amortization		1			1			—		—		—			3			—
Finance expenses, net		—			—			—		—		2			6			3
Income tax expense (benefit)		—			—			—		—		—			1			—
Adjusted EBITDA	$	—		$	—		$	—	$	—	$	—		$	—		$	(1	)

	DEOCSA		DEORSA		IC Power Total
	($ millions)
Income (loss)	$	1	$	2	$	21
Depreciation and amortization		3		2		36
Finance expenses, net		4		2		30
Income tax expense (benefit)		1		-		12
Adjusted EBITDA	$	9	$	6	$	99

The tables below set forth a reconciliation of net debt to total debt for IC Power’s subsidiaries for the three months ended March 31, 2016:

	Kallpa		CDA		Samay I		OPC		AIE			ICPNH		PuertoQuetzal		Nejapa			Cenérgica			Kanan
	($ millions)
Total debt	$	401	$	582	$	333	$	387	$	—		$	97	$	17	$	—		$	—		$	61
Cash		22		38		24		105		4			15		7		14			2			1
Net Debt	$	379	$	544	$	309	$	282	$	(4	)	$	82	$	10	$	(14	)	$	(2	)	$	60

	Guatemel			COBEE		CentralCardones		Colmito		CEPP		JPPC		Surpetroil		Recsa		IC Power Distribution Holdings		Inkia & Other
	($ millions)
Total debt	$	—		$	67	$	40	$	17	$	11	$	4	$	3	$	3	$	118	$	448
Cash		1			19		1		2		4		3		—		1		—		86
Net Debt	$	(1	)	$	48	$	39	$	15	$	7	$	1	$	3	$	2	$	118	$	362

	IC Power, ICPI & Other		DEOCSA		DEORSA		Total IC Power
	($ millions)
Total debt	$	95	$	164	$	107		2,955
Cash		64		15		23		451
Net debt		31		149		84		2,504

Appendix F

Summary Qoros unaudited consolidated financial information

Qoros’ Consolidated Statement of Profit or Loss

	For the Three Months Ended
In millions of RMB	2017			2016
Revenue		406			512
Cost of sales		(477	)		(611	)
Gross loss		(71	)		(99	)
Other income		10			20
Research and development expenses		(37	)		(30	)
Selling, general and administrative expenses		(100	)		(147	)
Other expenses		(8	)		(3	)
Operating loss		(206	)		(259	)
Finance income		4			27
Finance costs		(81	)		(76	)
Net finance costs		(77	)		(49	)
Loss before tax		(283	)		(308	)
Income tax expense		—			—
Loss for the year		(283	)		(308	)

Qoros’ Consolidated Statement of Financial Position

	At March 31			At December 31
In millions of RMB	2017			2016
Assets
Property, plant and equipment		4,159			4,219
Intangible assets		4,311			4,323
Prepayments for purchase of equipment		7			1
Lease prepayments		198			199
Trade and other receivables		92			92
Pledged deposits		—			8
Equity-accounted investee		2			2
Non-current assets		8,769			8,844
Inventories		343			322
VAT recoverable		845			808
Trade and other receivables		59			60
Prepayments		48			13
Available for sale financial assets		—			100
Pledged deposits		49			36
Cash and cash equivalents		65			465
Current assets		1,409			1,804
		10,656			10,656
Total assets		10,178			10,648
Equity
Paid-in capital		10,426			10,426
Reserves		53			53
Accumulated losses		(10,316	)		(10,033	)
Total equity		163			446
Liabilities
Loans and borrowings		4,014			4,249
Deferred income		402			412
Trade and other payables		111			112
Provisions		58			56
Total Non-current liabilities		4,585			4,829
Loans and borrowings		3,025			2,641
Trade and other payables		2,358			2,685
Deferred income		47			47
Total Current liabilities		5,430			5,373
Total liabilities		10,015			10,202
Total equity and liabilities		10,178			10,648

Appendix G

Definition of Qoros’ EBITDA and non-IFRS Reconciliation

This press release presents the EBITDA of Qoros, which is a financial metrics considered to be a “non-IFRS financial measure.” Non-IFRS financial measures should be evaluated in conjunction with, and are not a substitute for, IFRS financial measures. The non-IFRS financial information presented herein should not be considered in isolation from or as a substitute for operating income, net income or per share data prepared in accordance with IFRS.

Qoros defines “EBITDA” for each period for as net loss for the year, excluding net finance costs and depreciation and amortization. EBITDA is not recognized under IFRS or any other generally accepted accounting principles as measures of financial performance and should not be considered as a substitute for net income or loss, cash flow from operations or other measures of operating performance or liquidity determined in accordance with IFRS. EBITDA is not intended to represent funds available for dividends or other discretionary uses because those funds may be required for debt service, capital expenditures, working capital and other commitments and contingencies. EBITDA presents limitations that impair its use as a measure of our profitability since it does not take into consideration certain costs and expenses that result from our business that could have a significant effect on our net income, such as financial expenses, taxes, depreciation, capital expenses and other related charges.

Qoros believes that the disclosure of EBITDA provides transparent and useful information to investors and financial analysts in their review of Qoros’ operating performance and in the comparison of such operating performance to the operating performance of other companies in the same industry or in other industries that have different capital structures, debt levels and/or income tax rates.

Set forth below is a reconciliation of Qoros’ net loss to EBITDA for the periods presented. Other companies may calculate EBITDA differently, and therefore this presentation of EBITDA may not be comparable to other similarly titled measures used by other companies.

	March 31
In millions of RMB	2017			2016
Net loss for the year		(283	)		(308	)
Net finance costs		77			49
Depreciation and Amortization		117			128
EBITDA		(89	)		(131	)