Exhibit 99.2

Financial Information for the Three Months Ended March 31, 2024 and 2023 of Kenon and OPC and

Reconciliation of Certain non-IFRS Financial Information

Table of Contents

Appendix A

Summary Kenon consolidated financial information

Kenon Holdings Ltd. and its subsidiaries
Consolidated Statements of Financial Position (Unaudited)

	March 31,			December 31,
	2024			2023
	$ millions
Current assets
Cash and cash equivalents		677			697
Short-term deposits and restricted cash		1			1
Trade receivables		67			68
Short-term derivative instruments		4			3
Other investments		192			216
Other current assets		102			111
Total current assets		1,043			1,096
Non-current assets
Investment in ZIM (associated company)		-			-
Investment in OPC’s associated companies		700			703
Long-term restricted cash		16			16
Long-term derivative instruments		16			14
Deferred taxes, net		9			16
Property, plant and equipment, net		1,731			1,715
Intangible assets, net		311			321
Long-term prepaid expenses and other non-current assets		56			52
Right-of-use assets, net		171			175
Total non-current assets		3,010			3,012
Total assets		4,053			4,108
Current liabilities
Current maturities of loans from banks and others		107			170
Trade and other payables		179			182
Dividend payable		201			-
Short-term derivative instruments		2			2
Current maturities of lease liabilities		7			5
Total current liabilities		496			359
Non-current liabilities
Long-term loans from banks and others		907			906
Debentures		474			454
Deferred taxes, net		132			137
Other non-current liabilities		113			110
Long-term derivative instruments		13			16
Long-term lease liabilities		55			56
Total non-current liabilities		1,694			1,679
Total liabilities		2,190			2,038
Equity
Share capital		50			50
Translation reserve		(5	)		(4	)
Capital reserve		66			70
Accumulated profit		895			1,087
Equity attributable to owners of the Company		1,006			1,203
Non-controlling interests		857			867
Total equity		1,863			2,070
Total liabilities and equity		4,053			4,108

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Kenon Holdings Ltd. and its subsidiaries
Consolidated Statements of Profit or Loss (Unaudited)

	For the three months ended March 31,
	2024			2023
	$ millions
Revenue		174			147
Cost of sales and services (excluding depreciation and amortization)		(117	)		(103	)
Depreciation and amortization		(20	)		(14	)
Gross profit		37			30
Selling, general and administrative expenses		(23	)		(23	)
Other expenses, net		(8	)		-
Operating profit		6			7
Financing expenses		(21	)		(14	)
Financing income		12			13
Financing expenses, net		(9	)		(1	)
Share in profit/(losses) of associated companies, net
-          ZIM		-			(12	)
-          OPC’s associated companies		20			24
Profit before income taxes		17			18
Income tax expense		(7	)		(13	)
Profit for the period		10			5
Attributable to:
Kenon’s shareholders		8			(8	)
Non-controlling interests		2			13
Profit for the period		10			5
Basic/diluted profit/(loss) per share attributable to Kenon’s shareholders (in dollars):
Basic/diluted profit/(loss) per share		0.15			(0.14	)

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Kenon Holdings Ltd. and its subsidiaries
Consolidated Statements of Cash Flows (Unaudited)

	For the three months ended March 31,
	2024			2023
	$ millions
Cash flows from operating activities
Profit for the period		10			5
Adjustments:
Depreciation and amortization		22			15
Financing expenses, net		9			1
Share in profit of associated companies, net		(20	)		(12	)
Share-based payments		2			3
Other expenses, net		15			-
Income tax expense		7			13
		45			25
Change in trade and other receivables		11			26
Change in trade and other payables		9			(25	)
Cash generated from operating activities		65			26
Dividend received from associate companies, net		5			-
Net cash provided by operating activities		70			26

4

Kenon Holdings Ltd. and its subsidiaries
Consolidated Statements of Cash Flows (Unaudited), continued

	For the three months ended March 31,
	2024			2023
	$ millions
Cash flows from investing activities
Short-term deposits and restricted cash, net		(1	)		39
Short-term collaterals deposits, net		3			20
Investment in associated companies, less cash acquired		(3	)		(1	)
Acquisition of subsidiary, less cash acquired		-			(75	)
Acquisition of property, plant and equipment		(69	)		(53	)
Acquisition of intangible assets		-			(4	)
Proceeds from distribution from associated company		-			2
Proceeds from sale of other investments		27			90
Purchase of other investments		-			(50	)
Long-term advance deposits and prepaid expenses		-			(6	)
Interest received		8			5
Proceeds from transactions in derivatives, net		-			2
Net cash used in investing activities		(35	)		(31	)
Cash flows from financing activities
Repayment of long-term loans, debentures and lease liabilities		(48	)		(106	)
Investments of holders of non-controlling interests in the capital of a subsidiary		-			129
Investment of non-controlling interest in subsidiary		-			45
Proceeds from issuance of debentures, less issuance expenses		52			-
Proceeds from long-term loans		13			162
Proceeds from derivative financial instruments, net		1			-
Costs paid in advance in respect of taking out of loans		-			(1	)
Repayment of short-term loans		(55	)		-
Interest paid		(19	)		(9	)
Net cash (used in)/provided by financing activities		(56	)		220
(Decrease)/increase in cash and cash equivalents		(21	)		215
Cash and cash equivalents at beginning of the year		697			535
Effect of exchange rate fluctuations on balances of cash and cash equivalents		1			-
Cash and cash equivalents at end of the period		677			750

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Information regarding reportable segments

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

	For the three months ended March 31, 2024
	OPC Israel			CPV Group			ZIM		Other		Consolidated Results
$ millions
Revenue		145			29			-		-		174
Depreciation and amortization		(16	)		(6	)		-		-		22
Financing income		3			1			-		8		12
Financing expenses		(15	)		(6	)		-		-		(21	)
Share in profit of associated companies		-			20			-		-		20
Profit before taxes		4			7			-		6		17
Income tax expense		(6	)		(1	)		-		-		(7	)
(Loss)/profit for the period		(2	)		6			-		6		10

	For the three months ended March 31, 2023
	OPC Israel			CPV Group			ZIM			Other			Consolidated Results
$ millions
Revenue		131			16			-			-			147
Depreciation and amortization		(12	)		(3	)		-			-			(15	)
Financing income		6			1			-			6			13
Financing expenses		(10	)		(2	)		-			(2	)		(14	)
Share in profit of associated companies		-			24			(12	)		-			12
Profit/(loss) before taxes		14			14			(12	)		2			18
Income tax expense		(2	)		(4	)		-			(7	)		(13	)
Profit/(loss) for the period		12			10			(12	)		(5	)		5

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Appendix B

Summary of OPC consolidated financial information

OPC’s Consolidated Statements of Profit or Loss (Unaudited)

	For the three months ended March 31,
	2024			2023
	$ millions
Revenue		174			147
Cost of sales (excluding depreciation and amortization)		(117	)		(103	)
Depreciation and amortization		(20	)		(14	)
Gross profit		37			30
Selling, general and administrative expenses		(21	)		(21	)
Other expenses, net		(8	)		-
Operating profit		8			9
Financing expenses		(21	)		(12	)
Financing income		4			7
Financing expenses, net		(17	)		(5	)
Share in profit of associated companies, net		20			24
Profit before income taxes		11			28
Income tax expense		(7	)		(6	)
Profit for the period		4			22
Attributable to:
Equity holders of the company		5			18
Non-controlling interest		(1	)		4
Profit for the period		4			22

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Summary Data from OPC’s Consolidated Statement of Cash Flows (Unaudited)

	For the three months ended March 31,
	2024			2023
	$ millions
Cash flows provided by operating activities		72			28
Cash flows used in investing activities		(68	)		(74	)
Cash flows (used in)/provided by financing activities		(55	)		221
(Decrease)/increase in cash and cash equivalents		(51	)		175
Cash and cash equivalents at end of the period		228			416

Summary Data from OPC’s Consolidated Statement of Financial Position (Unaudited)

	As at
	March 31, 2024		December 31, 2023
	$ millions
Total financial liabilities1		1,488		1,530
Total monetary assets2		244		278
Investment in associated companies		700		703
Total equity attributable to the owners		1,056		1,061
Total assets		3,418		3,479

1.	Including loans from banks and others and debentures
2.	Including cash and cash equivalents, term deposits and restricted cash

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Appendix C

Definition of OPC’s Adjusted EBITDA (including share of EBITDA of its associated companies) and non-IFRS reconciliation

This press release, including the financial tables, presents OPC’s Adjusted EBITDA and share of EBITDA of its associated companies, which are non-IFRS financial measures.

OPC’s EBITDA is defined for each period as net profit before depreciation and amortization, financing expenses, net, share of depreciation and amortization and financing expenses, net, included within share of profit of associated companies, net and income tax expense. OPC’s Adjusted EBITDA is defined as net profit before depreciation and amortization, financing expenses, net, share of depreciation and amortization and financing expenses, net, included within share of profit of associated companies, net, income tax expense, changes in net expenses, not in the ordinary course of business and/or of a non-recurring nature, other income/(expenses) and share of changes in fair value of derivative financial instruments. EBITDA and Adjusted EBITDA are not recognized under IFRS as a measure of financial performance and should not be considered as a substitute for net profit or loss, cash flow from operations or other measures of operating performance determined in accordance with IFRS. EBITDA and Adjusted EBITDA are 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. There are limitations that impair the use of EBITDA and Adjusted EBITDA as measures of OPC’s profitability since it does not take into consideration certain costs and expenses that result from OPC’s business that could have a significant effect on net profit, such as financial expenses, taxes, and depreciation and amortization. 

OPC believes that the disclosure of Adjusted EBITDA and share of EBITDA of its associated companies provide useful information to investors and financial analysts in their review of the company’s, its subsidiaries’, and its associated companies’ 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 are reconciliations of OPC’s net profit to Adjusted EBITDA and share of net profit or losses to share of EBITDA of its associated companies for the periods presented. Other companies may calculate EBITDA and Adjusted EBITDA differently, and therefore this presentation of EBITDA and Adjusted EBITDA may not be comparable to other similarly titled measures used by other companies.

	For the three months ended March 31,
	2024		2023
	$ millions
Profit for the period		4		22
Depreciation and amortization		22		15
Financing expenses, net		17		5
Share of depreciation and amortization and financing expenses, net, included within share of profit of associated companies, net		30		27
Income tax expense		7		6
EBITDA		80		75
Changes in net expenses, not in the ordinary course of business and/or of a non-recurring nature		15		-
Adjusted EBITDA		95		75

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Appendix D

Summary Financial Information of OPC’s Subsidiaries

The tables below set forth debt, cash and cash equivalents, and debt service reserves for OPC’s subsidiaries as of March 31, 2024 and December 31, 2023 (in $ millions):

As at March 31, 2024	OPC Energy			OPC-Rotem			OPC-Hadera		OPC-Tzomet		OPC-Gat		CPV Keenan		Others		Total
Debt (including accrued interest)		2			-			164		301		118		76		171		832
Cash and cash equivalents (including restricted cash used for debt service)		20			10			19		12		10		1		70		142
Derivative financial instruments for hedging principal and/or interest		-			-			11		-		-		5		2		18
Net debt*		(17	)		(10	)		134		289		108		70		100		674

As at December 31, 2023	OPC Energy		OPC-Rotem			OPC-Hadera		OPC-Tzomet		OPC-Gat		CPV Keenan		Others			Total
Debt (including accrued interest)		56		-			177		306		120		79		161			899
Cash and cash equivalents (including restricted cash used for debt service)		44		2			27		26		3		-		93			195
Derivative financial instruments for hedging principal and/or interest		-		-			10		-		-		5		(1	)		14
Net debt*		12		(2	)		140		280		116		73		69			688

*Net debt is defined as debt minus cash and cash equivalents and deposits and restricted cash.

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Appendix E

Definition of ZIM’s Adjusted EBITDA and non-IFRS reconciliation

This press release, including the financial tables, presents ZIM’s Adjusted EBITDA, which is a non-IFRS financial measure.

ZIM defines Adjusted EBITDA for each period as net profit/(loss) adjusted to exclude financial expenses/(income), net, income taxes, depreciation and amortization in order to reach EBITDA, and further adjusted to exclude impairments of assets, non-cash charter hire expenses, capital gains/(losses) beyond the ordinary course of business and expenses related to legal contingencies. Adjusted EBITDA is not recognized under IFRS as a measure of financial performance and should not be considered as a substitute for net profit or loss, cash flow from operations or other measures of operating performance 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. There are limitations that impair the use of Adjusted EBITDA as a measure of ZIM’s profitability since it does not take into consideration certain costs and expenses that result from ZIM’s business that could have a significant effect on net profit, such as financial expenses, taxes, and depreciation and amortization. 

ZIM believes that the disclosure of Adjusted EBITDA enables the comparison of operating performance between periods on a consistent basis. This measure should not be considered in isolation, or as a substitute for operating income, any other performance measure, or cash flow data, which were prepared in accordance with IFRS as measures of profitability or liquidity. In addition, non-IFRS financial measures may not be comparable to similarly titled measures reported by other companies, due to differences in the way these measures are calculated.

Set forth below is a reconciliation of ZIM’s net profit/(loss) to Adjusted EBITDA for the periods presented(*).

	For the three months ended March 31,
	2024		2023
	$ millions
Profit/(loss) for the period		92		(58	)
Depreciation and amortization		261		387
Financing expenses, net		70		51
Income tax expense/(benefits)		4		(7	)
EBITDA		427		373
Adjusted EBITDA		427		373

* The table above may contain slight summation differences due to rounding.

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